- Highlighted are BMO's "dependable products" in the "Best
Checking Accounts" and "Best High Yield Savings Accounts" and "Best
CD Accounts" categories.
- Recognition highlights BMO's "comprehensive and easy-to-use"
mobile app.
CHICAGO, Jan. 22,
2024 /PRNewswire/ - BMO today announced it has been
named one of the "Best Banks of 2024" by GOBankingRates,
which analyzes the top financial institutions in the United States each year to help Americans
find banks that will help them reach their financial goals.
Notably, BMO is recognized in three categories that help customers
do more with their cash deposits: Best Checking Accounts, Best CD
Accounts, and Best High Yield Savings Accounts categories, with the
personal finance website calling BMO a "straightforward approach to
banking with dependable products" and a "very impressive banking
experience."
"We are thrilled that BMO and our product offerings have been
recognized among the best in the nation for helping our customers
plan, save, and make real financial progress," said Paul Dilda, Head of U.S. Consumer Strategy at
BMO. "Whether it's our industry-leading checking accounts or
convenient, easy-to-manage savings accounts and certificate of
deposits (CDs), BMO has the best tools and resources to help
customers get ahead and stay ahead financially."
To determine the best banks in the U.S., GOBankingRates
ranked institutions based on several factors, including customer
service, total assets, minimum deposit needed to open a checking or
savings account, loan and credit card options, mobile app ratings,
and more.
Specifically, GOBankingRates recognizes BMO as "a
fantastic option for those who want a streamlined, one-stop shop
for all banking needs" and highlighted the bank's various products,
such as:
- BMO Smart Advantage Checking: A no monthly maintenance
fee or minimum monthly balance checking account with unlimited
transactions and fee-free access at over 41,000 ATMs nationwide –
more than the two largest U.S. banks combined.
- BMO Smart Money™: A low fee checking account
with no overdraft fees that was awarded Bank On certification.
Bank On's standards include low costs, no overdraft fees,
transaction capabilities such as a debit or prepaid card, and
online bill pay.
- BMO Relationship Checking: A high rewards checking
account with benefits that include interest on your account
balance, free and unlimited transactions at non-BMO ATMs,
Mastercard ID threat protection, free incoming transfers, and ATM
fee rebates up to $25 if charged by
other banks.
- BMO Savings Builder: No monthly maintenance
fee, no transaction limits, and rewards when savings goals are
met.
- Certificate of Deposit (CDs): Guaranteed growth and
locked-in competitive interest rates that are protected against the
variability of the markets with flexible term options.
- Relationship Plus Money Market: A savings account with
access to a competitive interest rate, especially when bundled with
a BMO Relationship Checking account.
- BMO Alto: High-yield, online-only savings and CDs in all
50 states with no fees, $0 minimum
opening deposit, no minimum balance, as well as unlimited transfers
and withdrawals.
Additionally, GOBankingRates recognized the BMO Digital
Banking app as very comprehensive and easy to use, with "many users
reporting they are satisfied with the app's intuitiveness, detailed
information, and simplicity".
"At BMO, we meet customers where they are with leading digital
experiences that drive real financial progress," said Mathew Mehrotra, Chief Digital Officer at BMO.
"Our digital experiences empower customers to personalize and
manage their finances conveniently so they can make better
day-to-day decisions in their financial lives."
BMO offers additional ways to save and make real financial
progress
In addition to the checking and savings accounts highlighted
above in GOBankingRates' recognition, BMO offers customers
the following tools and resources to help manage their money:
- BMO SmartProgress: A free online personal finance
education platform that breaks down complex financial concepts like
investing, retirement planning, homeownership, and credit
management.
- BMO Total Look: Manage all BMO and non-BMO
financial information – from bank accounts to credit cards,
mortgages to loans, and investments – all in one secure
location.
- BMO CreditView: A no-fee way to access your full credit
report, learn how financial decisions might impact your credit with
TransUnion ScoreSimulator®, and learn how to build credit with
credit building tips.
- BMO Cash Back Rewards Cards: Refreshed this year
to offer increased rewards on everyday spending.
- Credit Builder Account: A program that makes
it easy to make on-time payments so you can build your credit
rating in the process.
To learn more about how BMO can help you with your banking
needs, visit https://www.bmo.com/en-us/main/personal/.
About BMO Financial Group
BMO Financial Group is the eighth largest bank in
North America by assets, with
total assets of $1.3 trillion as of
October 31, 2023. Serving customers
for 200 years and counting, BMO is a diverse team of highly engaged
employees providing a broad range of personal and commercial
banking, wealth management, global markets and investment banking
products and services to 13 million customers across Canada, the United
States, and in select markets globally. Driven by a single
purpose, to Boldly Grow the Good in business and life, BMO
is committed to driving positive change in the world, and making
progress for a thriving economy, sustainable future, and inclusive
society.
Media Contact: Lucas
Seiler, Chicago,
lucas.seiler@bmo.com, 312-340-8576
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SOURCE BMO Financial Group
